Guideline Value for SAMAYAPURAM NAGAR 1 TO 5 CROSS STREET

Samayapuram Nagar 1 To 5 Cross Street guideline value

The current guideline value for Samayapuram Nagar 1 To 5 Cross Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Vanagaram village, under the Chennai South Joint I SRO, and is classified as Residential Special Type - I.

How the guideline value of Samayapuram Nagar 1 To 5 Cross Street has changed

The guideline value for this street has seen significant changes over the years. In 2002, the guideline value was Rs 136 per sq.ft, which increased to Rs 157 per sq.ft in 2003. By 2007, it had risen dramatically to Rs 500 per sq.ft, marking a 218% increase. The value then jumped to Rs 2,500 per sq.ft in 2012, reflecting a 400% increase from the previous revision. However, from 2012 to 2017, it decreased to Rs 1,675 per sq.ft, a drop of 33%. The guideline value then rose to Rs 2,500 per sq.ft in 2023, and as of the 2024 revision, it stands at Rs 2,750 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,922%. There are no figures available for the years not listed in the register for this street.

Guideline values in Vanagaram

In Vanagaram, there are 287 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 770 to Rs 5,500 per sq.ft. The median guideline value for the village is Rs 1,660 per sq.ft, placing Samayapuram Nagar 1 To 5 Cross Street above this median.

• Samayapuram: Rs 2,750 per sq.ft (2024)
• Sakthi Sairam 3rd Cross Street: Rs 1,320 per sq.ft (2024)
• Sakthi Sairam 2nd Street: Rs 1,320 per sq.ft (2024)
• Sakthi Sairam 2nd Cross Street: Rs 1,320 per sq.ft (2024)
• Sakthi Sairam 1st Street: Rs 1,660 per sq.ft (2024)
• Sakthi Sairam 1st Cross Street: Rs 1,660 per sq.ft (2024)

Stamp duty and registration fee for property in Samayapuram Nagar 1 To 5 Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 2,750 per sq.ft, the guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Samayapuram Nagar 1 To 5 Cross Street?

The Sub Registrar Office that covers Samayapuram Nagar 1 To 5 Cross Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Vanagaram

The guideline value is a crucial factor in the registration process of property transactions in Vanagaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the guideline value as it affects the costs involved in the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid any legal complications during the registration process.

Frequently asked questions

What is the current guideline value for Samayapuram Nagar 1 To 5 Cross Street?

The current guideline value for Samayapuram Nagar 1 To 5 Cross Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 136 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting a total increase of 1,922% over the years.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500, and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which office handles the registration of properties in Samayapuram Nagar 1 To 5 Cross Street?

The registration of properties in Samayapuram Nagar 1 To 5 Cross Street is handled by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is the guideline value used in property transactions?

The guideline value is used as a benchmark for determining the minimum registration value of a property. It ensures that the appropriate stamp duty and registration fees are collected based on this value during property transactions.